Completed in a 1031 Exchange Transaction

Stockton, CA— Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the $5.65M sale of a DaVita Dialysis facility at 1810 South Fresno Ave, Stockton, CA. DaVita is a leading provider of kidney care in the United States with over 2,600 locations nationwide. Associate Melanie Selleck and Director of Retail in the Western U.S. Devon Dykstra represented the seller in the transaction.

 

The buyer acquired the property through a 1031 Exchange, seeking a single tenant net lease asset in the area. Due to the property’s strategic pricing, the seller was able to secure a strong 5.25 percent cap rate. Additionally, the buyer achieved their goal of portfolio expansion in the Central California market and acquired a strong tenant with over seven years remaining.

 

“This property allows the buyer to implement an annual rent increase of three percent per year for the remaining term, adding to the property’s return on investment,” said Selleck.

 

The healthcare property is conveniently located nearby St. Joseph’s Medical Center and San Joaquin General Hospital. Spanning 8,935 square feet with 40 parking spaces, 23 equipped dialysis stations, and one Hemodialysis treatment room, this DaVita facility is a desirable healthcare asset.

 

“Our combined databases combined with the utilization of Matthews™ technology and marketing allowed us to reach a large buying pool,” said Dykstra. “We were able to stay top of mind and reach additional buyers through consistent updates to third-party websites.”

 

For more information, or to contact Melanie Selleck and Devon Dykstra, please visit www.matthews.com.

 

 

 

 

 

 

 

About Matthews™

Matthews Real Estate Investments Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 400 agents and support staff in 14 offices across the United States, continues to focus on expansion into new markets. For more information, please visit www.matthews.com.